Hunting PLC : An appropriate purchase level
By Etienne Veber
Entry price | Target | Stop-loss | Potential |
---|---|---|---|
GBX 717.5 | GBX 0 | GBX 679.8 | -100% |
The fundamental situation is encouraging with growth perspective for the next years. Moreover, the yield is equal to 2.6% and the debt is decreasing year after year.
The stock is oversold and near to the GBp 690. This situation gives credit to a potential technical rebound. Thus, the stock could find new energy and would rise towards the next GBp 754 resistance.
The technical situation calls for Hunting buys at current prices with an upside potential to GBp 754, which represents a performance of 5.5%. This investment strategy will require a stop loss below GBp 680.